Which is the best place for you to buy watches cheaply from? Should you hop on to the next flight to China to access more of the cheaper varieties of good quality watches? Is there a specific market for cheaper watches in the world?
This article takes you through what you need to know about watches being cheap in some parts of the world.
We’ll specifically look at Hong Kong and whether watches are cheaper there or not. So, let’s get right into it!
Are watches cheaper in Hong Kong?
Well, when it comes to watches, especially the very best of luxury watches, Hong Kong offers some of the most affordable options for watches, and not just any kind of watch, but the very best of luxury watches.
In fact, Hong Kong is considered to be the leading market for the best Swiss watch exports. And thanks to the high or bulk purchasing power offered, you can enjoy some great discounts. This doesn’t mean, however, that the watches sold in Hong Kong are dirt cheap.
If anything, getting a good deal when buying watches from Hong Kong depends on your country’s currency strength. You would enjoy actual low prices for luxury watches sold in Hong Kong only if your country’s currency is strong.
Reasons why watches cheaper in Hong Kong
As mentioned above, watches are generally cheaper in Hong Kong. And though you wouldn’t say that the watches are dirt cheap to the extent that makes you question the quality of the watches, luxury watches sold in Hong Kong are generally priced lower than they are sold for in other markets and parts of the world.
There is also the fact that Hong Kong’s fast rise to success and stardom has been attributed to the thriving markets and resulted in the great success of the nation’s state of local tourism.
And with most watch manufacturers based in Hong Kong, and consequently millions of hunters for the timepieces coming to Hong Kong from all over the world, it makes sense that some refer to Hong Kong as the world capital for the best and most affordable watches.
So, what are the reason for the lower prices of watches sold in Hong Kong?
- Watch manufacturing plants are based in Hong Kong
While a country like Switzerland is known for offering the best quality and cheapest options of luxury watches, the watches sold in these European countries might not be the cheapest ones.
Most watches are still made in Switzerland, but Hong Kong takes the spot for having many more manufacturing plants for watches and being able to offer the watches at much lower prices.
So, if you are looking for luxury watches at fair prices, Hong Kong would be an ideal choice. There are hundreds, if not thousands of top-notch watch manufacturers, and the factories feature the very best craftsmen who are either local or international watch experts.
- Thriving Luxury Goods Market
There is no denying the fact that when it comes to the pursuit of luxury and the best of fashion and lifestyle, Hong Kong tops that list.
Therefore, it doesn’t come as a surprise to note and see that the luxury watches in Hong Kong are high in the list of the things people want to buy when they visit Hong Kong.
The prices are also fair compared to the prices of the same watches in their countries.
With the high demand, high competition from the many sellers, the prices of the watches are not just affordable, but quite reasonable.
- No Sales Tax Applicable
The main reason why watches are cheaper in Hong Kong is that Hong Kong’s product prices do not include sales tax, which results in instant low prices for luxury goods and pretty much everything else purchased or sold in Hong Kong.
Tips for buying cheaper Watch in Hong Kong
- Buy watches from authorized dealers
As is the case with any thriving market, there are many fake watches in Hong Kong, which means that the only way for you to get your money’s worth is by buying the watch from an authorized dealer. Whether in Hong Kong or in Switzerland, the authorized dealers of luxury watches or watches from renowned brands are the same.
So, whether you are shopping for the watches from a physical store, you should know who the authorized dealers for specific brands are.
Buying the watches from the approved dealers means that you are buying from stores where the watchmakers have authorized them to sell the high-end timepieces.
You can find these dealers in the large shopping centers, and though you may have spotted even lower prices elsewhere, buying from these authorized dealers means not buying counterfeits that easily pass for genuine pieces.
- Shop from new watch dealers
In Hong Kong, dealers in new watches specify that new watches are exactly what they are dealing with.
There are many of these shops, though, and you may want to take a bit of time to research about these dealers, how long they have been on the market for, the kinds of warranties they offer, and even the details of their suppliers.
If you are considering a reputable brand, you will come across all the necessary information about that brand online. The other thing you should know when buying a new watch from someone who deals in new watches is that the watch you purchase will come with a signed certificate from the manufacturer and the shop.
And whether you are going to the new watch dealers or the authorized dealers, you need to make sure that they are registered.
- Shop with cash
As long as you are shopping in Hong Kong and you want to enjoy the best offers, carry cash. All those dollar bills are a welcome sight when shopping in Hong Kong. Credit cards are not acceptable in all shops, and even if they are, you may incur much more because of exchange rates and processing fees across borders.
- Avoid late afternoon shopping.
Shopping lazily in the afternoon might feel like the ideal thing for you to do, especially if you are touring, but you really need to go shopping for watches earlier in the day when the malls and shops are not overcrowded. Think of being in these stores before 11 am.
Always bargain. You may not know this, but most of the watch dealers are willing to offer a discount of between 10 and 15% of the initial price, with multiple purchases earning you even bigger discounts.
- Build Positive Relationships
If you are visiting and shopping for watches frequently in Hong Kong, you should work on building positive relationships with the dealers and sellers. You could also visit the Hong Kong Watch Guild Show, especially if you are a serious collector.
Watches are generally cheaper in Hong Kong than in many other world markets, and this is especially the case because of the absence of sales taxes charged and also because of the fact that there are many watch manufacturers and dealers that keep the prices affordable.
So, if you’d like to save a few bucks, you could buy a watch from Hong Kong.
Stephanie is a jewelry lover when she was a teenager. Her major was fashion design when she was in college. She is a jewelry designer at SOQ Jewelry and other design companies. Now she is also a writer for our website. She writes a lot of designs&brands posts with very actionable tips.